Verified Collection (VC), a Los Angeles startup company is seeking to attract mainstream consumers to the blockchain-based collectibles market. To do so, they plan to build on the blockchain’s advantages and eliminate its disadvantages.
What Are The Blockchain’s Problems?
The CEO of VC, Dil-Dominé J. Leonares believes, the blockchain is here to stay. However, the problem with blockchain is its complexity. New users find it difficult to use and tend to avoid it despite its benefits.
Another issue is the technology’s (in)ability to process microtransactions. With more users joining the market, the blockchain finds it difficult to process all transactions in a timely manner. As such, Leonares argues, “The blockchain technology we use today cannot meet the needs of daily consumers.”
Can These Problems Be Solved?
“We must focus on the idea first, and find a technology that will help us achieve that idea later” Said Leonares. VC has a clear idea in mind; they want users to own their assets, whether these assets are digital or physical.
To improve the blockchain’s verification system, VC plans to implement the elements of Quantum Distributed Hash Table technology. Leonares believes that such implementation would solve the problems with pollution caused by mining, and would allow for the creation of a global peer-to-peer system. That way, users would still enjoy the security and anonymity of the blockchain technology, and the problems regarding microtransactions and pollution would be solved.
Restoring Ownership And Security In The Consumer World
VC is trying to restore the true meaning of ownership in the world of gaming. Like many other companies in the DGaming industry, VC is using the power of Non-Fungible Tokens (NFT) and blockchain-based smart contracts.
Additionally, VC is also using their Trusted And Guaranteed (TAG) verification system. The system requires a quantum fingerprint to confirm ownership of physical or digital assets. The TAG system has a massive potential, and will probably be used by various businesses and industries.
The Benefits Behind These Technologies
VC believes that the blockchain, TAG and other technologies will enable the formation of a more personal relationship between consumers and companies.
With the help of the NFT, companies will be able to create unique digital assets, reward loyal customers, and improve their services. Consumers, on the other hand, will enjoy all the benefits of smart contracts. They’ll be able to materialize their digital assets and trade their digital collectibles for valuable physical products.
Leonares said that the VC’s mission is to merge the digital and physical worlds properly and securely. If they achieve success in the current collectibles market, VC (and companies like it) will demonstrate to other industries that the blockchain and technologies like are opening the door to a much personal, productive and profitable world.